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Assume ExxonMobil's price dropped to $36 overnight. Given the dividend growth rate of ExxonMobil of 8.00% and the last annual dividend of $1.75, what is

Assume ExxonMobil's price dropped to $36 overnight. Given the dividend growth rate of ExxonMobil of 8.00% and the last annual dividend of $1.75, what is the implied required rate of return necessary to justify the new lower market price of $36? What is the implied required rate of return necessary to justify the new lower market price of $36? enter your response here% (Round to two decimal places.)

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